Ann: Quarterly Activities Report, page-128

The road has been a long one, not only for BGS but for those who find themselves in the gold sector as a whole.

Many companies have done excellent work the past few years, only to be met with sideways action/ a lower share price. Not an excuse for BGS but it sure does not help us when gold has been beaten down this low for this long. I'm expecting a relief rally in Gold in the ST as the USD looks very toppy once again, and I still am bullish on Gold for the LT, as i'm sure many others here are also.

BGS is more than just a play on Gold, which is why i've stuck around for so long, We all know the potential re-rate here, independent of gold price, and the current standstill of the company speaks volumes to me when you consider what else is happening at Domba.

Read carefully through all our recent announcements. The 10000m targeted infill at our known satellite deposits to define shallow oxide ore has been planned, but is yet to commence... Quoting most recent quarterly "...would commence at an appropriate time subject to confirmation of the broader development strategy for the project."

I have a feeling RG will be coming in to fund this expense and will be using their expertise, right after Domba has final approval and begins being mined (which could have commenced already).

Read through Randgolds recent exploration update and quarterly updates, and how much they love satellite deposits in a low gold price environment.

The 10 for 1 consolidation will allow the company to seek financing from far more players if need be, especially Canadian markets who are all about companies that have low shares out. It'll also allow the company to be promoted there and tighten up the registry even more... perhaps we might even see a listing there given the fact Sprott global has been backing us big time over these years and has been very pleased with the progress thus far. Remember after options ECP own something like ~40% of the company, It's not chump change.

I don't think a raising is on the cards before the big news otherwise we would have seen it conducted in unison with the Consolidation as is so commonly seen in other exploration stocks. I am still expecting our big news event before year end given the timeframes on Domba, a few LT holders think we'll have to wait till Q1 2016. Time will tell. I don't want to drum up expectations here for those who are not that researched into the company.

I've been here for the long haul, and if a few holders get jittery I'll be buying up whatever is on offer at these ridiculous prices.

The 4-5 million dollars worth of options with acceleration clauses on a very big news event will IMO inject a mass of cash into the company, allowing us to fund our portion of CAPEX/Development for our satellites if we are required to do so, perhaps this will also allow us to retain a higher % of the project than what would have otherwise been possible.

The gold price works for and against us, however IMO we will still have a very significant and profitable satellite operation at $1000 gold, well meeting Randgolds investment and development parameters. I don't know many gold projects out there that can do that at these prices. http://www.bloomberg.com/news/videos/2015-11-05/randgold-q3-sales-and-net-income-falls